In USA September contract price fell after decline in spot values

October 04/2011

(ICIS) -- US ethylene contracts for
September settled at 54.50 cents/lb (USD 1,202/tonne, EUR 902/tonne), down by 1
cent/lb from August, market sources said on Monday. The fall in the September
contract price follows a decline in spot values of over 20% for the month as a
whole.Market participants had expected ethylene contracts to drop in
September, but only slightly, after a surge in ethane prices last month largely
offset a 22% drop in ethylene spot prices. Spot prices for prompt deliveries
were assessed on 30 September at 49.00Ц50.25 cents/lb DEL
(delivered).